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There are multiple criteria which must be met in order to qualify for access to the Patent Box. It can only be accessed by companies that are headquartered in the UK and where the main research and development nexus is also within the UK.

If your business qualifies, you could benefit from a significant discount on corporation tax in relation to the profits derived from the patented invention. What is more, if your patented technology only contributes to one small element of a wider product, you may qualify for the tax exemption on the value of the product as a whole. In this respect, the Patent Box can be a very generous benefit and which makes it popular for innovative companies looking to manage their tax exposure in the UK.

 

Patent Box - the Keltie difference

Our attorneys have witnessed first hand how the Patent Box system successfully stimulates innovation. In spite of this , many innovative British businesses are not using it. Whilst awareness of similar initiatives such as R&D tax Credits is high, awareness of the Patent Box is still relatively low - as of 2021 it is estimated that a majority of companies involved in innovating in the UK are not accessing the scheme.

 

Keltie offers comprehensive audits of your technology and technology processes, to help determine whether or not you are generating the kind of innovations that might enable you to qualify for the Patent Box.

 

This where we add value - by getting involved in the earliest stages of planning and developing an innovation, we can help access and unlock the benefits of the scheme. Our experienced attorneys will advise on whether Patent Box considerations should be built into your intellectual property strategy and portfolio, so you can capitalise on the value of your innovations.

 

Contact our skilled patent attorneys today to find out whether your innovation could enable you can start enjoying the benefits of the Patent Box.

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Deadline approaches for the EPO’s “10-day rule”

21.09.2023

Deadline approaches for the EPO’s “10-day rule”

The “10-day” rule, which determines how the response deadlines to certain European Patent Office (EPO) communications are calculated, is to be abandoned from 1 November 2023.

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Using patents for AI innovation to reduce UK corporation tax

01.06.2023

Using patents for AI innovation to reduce UK corporation tax

As the UK corporation tax rate rises from 19%-25%, this article sets out how the Patent Box system can be used to reduce this rate, and why the Patent Box is a particular incentive to file patent applications to AI innovations.

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T 56/21 – A missed opportunity for providing legal certainty on adapting the description at the EPO

04.11.2024

T 56/21 – A missed opportunity for providing legal certainty on adapting the description at the EPO

It is typically a requirement at the EPO to amend the description for conformity with the allowable claims before grant of a patent; however, there have been a number of diverging decisions on the matter. The latest decision finds that there is no legal basis for enforcing this requirement, which might suggest that it will no longer be necessary to adapt the description. However, there are other decisions which support the requirement to adapt the description. In view of this, and because the Board of Appeal in this case opted not to involve the highest authority at the EPO in order to clarify the situation, it is unclear as to whether or not the requirement to adapt the description will remain.

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